Changpeng Zhao’s Binance Coin [BNB] was residing under the crypto spotlight throughout the month. However, the latest crash in the market caused the asset to record a massive drop.
While all the other coins were enduring a crash, Cardano [ADA] was the only asset that was witnessing a surge. The asset recorded massive gains over the last couple of days further urging it to hit an all-time high of $1.46. Bitcoin [BTC], was undergoing a massive setback as it was trading at a low of $46,984 with a 15.84% downfall in the last 24-hours. All the other coins in the market followed a similar trend.
Binance coin [BNB], during the time of writing, was seen trading for $227.90. This coin came down to this number from its all-time high of $342.88. The 22.99% drop in the last seven days seems to have pushed the altcoin to its latest numbers. The asset turned heads after it surged up the crypto ladder all the way to the third position. However, the coin was recently overhauled by ADA as its market cap rose to $43.49 billion.
Binance Coin [BNB] One-Hour Price Chart
The short-term price chart of BNB was seen exhibiting a bullish sentiment. The Parabolic SAR indicator restored some hope in the BNB market by laying out dotted lines below the candlesticks. While this line stood as a support for the altcoin, the chances of a drop in its price could be highly unlikely. The MACD indicator went in for a bullish crossover, with the MACD line over the signal line. The Relative Strength Index indicator was revealing a buyers’ sentiment as it was over 50 median.
Binance Coin [BNB] One-Day Price Chart
The Awesome Oscillator indicator on the one-day price chart of BNB was forming red closing bars further intimating a bearish momentum. The Chaikin Money Flow indicator was over zero which suggested that the bulls were still in its market. The Money Flow Index also exhibited a buyers’ sentiment.